Canada's merchandise trade deficit with the world totaled CAD 3.2 billion in December, widening from a CAD 2.7 billion deficit in November while markets were expecting a CAD 2.2 billion shortfall. Imports rose 1.5 percent and exports were up 0.6 percent, both led by energy products. Balance of Trade in Canada averaged 1379.72 CAD Million from 1971 until 2017, reaching an all time high of 8524.80 CAD Million in January of 2001 and a record low of -4127.40 CAD Million in September of 2016.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

Canada December Trade Gap Larger Than Expected

Canada's merchandise trade deficit with the world totaled CAD 3.2 billion in December, widening from a CAD 2.7 billion deficit in November while markets were expecting a CAD 2.2 billion shortfall. Imports rose 1.5 percent, underpinned by higher purchases of energy products and industrial machinery, equipment and parts. Meantime, exports were up 0.6 percent, driven by sales of energy products and metal and non-metallic mineral products.

Total imports were up 1.5 percent to a record CAD 49.7 billion in December, with increases in 9 of 11 sections. Imports of energy products were up 16.9 percent to CAD 3.0 billion in December. Crude oil and crude bitumen imports increased 23.9 percent, while refined petroleum energy products rose 17.8 percent, mainly on higher imports of diesel and fuel oils. Purchases of industrial machinery, equipment and parts also grew 6.3 percent to CAD 5.0 billion. Imports of logging, mining and construction machinery and equipment led the way, rising 24.6 percent to a record CAD 897 million, the third consecutive monthly increase. These gains precede new emissions regulations affecting off-road diesel engines and machines. As of January 1, 2018, imports of equipment not meeting the new standards are no longer permitted

Meanwhile, imports of aircraft and other transportation equipment and parts were down 23.4 percent in December to CAD 1.7 billion, after two strong monthly increases, as fewer airliners were imported from the United States.

Imports from the United States fell 1.3 percent to CAD 31.5 billion in December. Following a 5.6 percent increase in November, imports from countries other than the United States rose 6.8 percent to CAD 18.2 billion in December, notably due to higher imports of passenger cars and light trucks from Germany as well as refined petroleum energy products from the Netherlands.

Total exports rose for the third consecutive month, up 0.6 percent to CAD 46.5 billion in December despite decreases in 6 of 11 sections. Shipments of energy products rose 6.2 percent to CAD 8.5 billion in December, the fifth consecutive monthly increase and the highest level since November 2014. Following pipeline disruptions in November, exports of crude oil and crude bitumen led the increase, up 7.4 percent to CAD 5.6 billion on higher volumes. Exports of natural gas (+26.6 percent) and electricity (+48.8 percent) also contributed to the gain as unusually low temperatures hit the North-eastern United States in December. Also, sales of metal and non-metallic mineral products soared 7.7 percent to CAD 5.6 billion. Unwrought precious metals and precious metal alloys led the increase on higher shipments of unwrought gold to Hong Kong, the United States and the United Kingdom.

Exports to the United States were down 0.8 percent to CAD 34.9 billion while those to countries other than the United States rose 4.9 percent to CAD 11.6 billion in December, led by Japan (aircraft), India (potash), the United Kingdom (unwrought gold) and Hong Kong (also unwrought gold).

Year-on-year, exports were up only 0.4% while imports jumped 7.8 percent.

Canada Trade Deficit Widens in November
Canada's trade deficit increased to CAD 2.5 billion in November of 2017, widening from CAD 1.6 billion in the previous month and above market expectations of a CAD 1.2 billion deficit. Imports went up 5.8 percent month-over-month and exports rose 3.7 percent, both due largely to increased activity in the automotive industry. Sales to the United States increased by 5.4 percent, while imports grew by 6.5 percent. As a result, the trade surplus with the United States, which accounted for 76.2 percent of Canadian goods exported in November, declined to CAD 3.34 billion from CAD 3.47 billion in October.Published on 2018-01-05

Canada Trade Gap Narrows in October
Canada's trade deficit decreased to CAD 1.47 billion in October of 2017 from an upwardly revised CAD 3.36 billion shortfall in the prior month and better than market expectations of a CAD 2.70 billion deficit. Exports were up 2.7 percent on higher sales to the United States, while imports decreased 1.6 percent due to lower purchases of motor vehicles and parts.Published on 2017-12-05

Canada Trade Deficit Unchanged in September
Canada's merchandise trade deficit with the world totaled CAD 3.17 billion in September 2017, essentially unchanged from a CAD 3.18 billion gap in the previous month and above market expectations of CAD 3 billion shortfall. Exports were down 0.3 percent on lower passenger car and light truck sales, while imports decreased 0.3 percent on lower prices.Published on 2017-11-03

Canada August Trade Deficit Larger than Expected
Canada's trade deficit widened to CAD 3.41 billion in August 2017 from a revised CAD 2.98 billion in the previous month and worse than market expectations of a CAD 2.60 billion gap.Published on 2017-10-05

Canada Balance of Trade

Between 1970 and 2008 Canada had been recording trade surpluses every year. From 2009 the trade balance shifted to deficit, with an exception of 2011 and 2014. In 2017, the largest trade deficits were recorded with China, Mexico and Germany, while the biggest trade surpluses were recorded with the United States, the United Kingdom and India. This page provides the latest reported value for - Canada Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Balance of Trade - actual data, historical chart and calendar of releases - was last updated on February of 2018.